ETH Daily TA Cautiously Bearish
ETHUSD Daily guidance is cautiously bearish. Recommended ratio: 10% ETH, 90% Cash.
*SUNDAY SCARIES WATCH. This is one of those rare occasions where FA alone can essentially tell you that Equities and Cryptos are both going to continue seeing selling pressure as long as DXY keeps raging higher. As long as the Fed keeps raising rates and Russia keeps raising reinforcements, this shouldn't be too difficult. DXY looks poised to retest $120 for the first time since 2000-2002 (Dot-Com bubble peaked in 2000). Key Upcoming Dates: September US Consumer Confidence Index at 10am EST 09/27; August US New-Home Sales at 10am EST 09/27; Final US Q2 GDP revision at 830am EST 09/29; August US PCE price index at 830am EST 09/30.*
Price is currently attempting to continue trending up after bouncing off of $1270 minor support, the next resistance is at $1427. Volume is currently Moderate (low) and on track to favor buyers for a third consecutive session. Parabolic SAR flips bullish at $1485, this margin is neutral at the moment. RSI is currently trending up slightly at 39 as it attempts to reclaim support of the uptrend line from November 2018 at 38 after bouncing from the uptrend line from January 2022 at ~32 as support; if it can stay above 38 it would imply that Price may have found a near-term bottom. Stochastic remains bullish and is currently testing 17.81 resistance with no signs of peak formation. MACD remains bearish and is currently testing -46.46 support as it continues to form a trough. ADX is currently trending up at 29 as Price continues to fall, this is bearish.
If Price is able to continue going up here then it will likely retest $1427 resistance. However, if Price breaks down here it will likely retest $1270 minor support before potentially falling to retest
1K psychological support. Mental Stop Loss: (two consecutive closes above) $1427.
*SUNDAY SCARIES WATCH. This is one of those rare occasions where FA alone can essentially tell you that Equities and Cryptos are both going to continue seeing selling pressure as long as DXY keeps raging higher. As long as the Fed keeps raising rates and Russia keeps raising reinforcements, this shouldn't be too difficult. DXY looks poised to retest $120 for the first time since 2000-2002 (Dot-Com bubble peaked in 2000). Key Upcoming Dates: September US Consumer Confidence Index at 10am EST 09/27; August US New-Home Sales at 10am EST 09/27; Final US Q2 GDP revision at 830am EST 09/29; August US PCE price index at 830am EST 09/30.*
Price is currently attempting to continue trending up after bouncing off of $1270 minor support, the next resistance is at $1427. Volume is currently Moderate (low) and on track to favor buyers for a third consecutive session. Parabolic SAR flips bullish at $1485, this margin is neutral at the moment. RSI is currently trending up slightly at 39 as it attempts to reclaim support of the uptrend line from November 2018 at 38 after bouncing from the uptrend line from January 2022 at ~32 as support; if it can stay above 38 it would imply that Price may have found a near-term bottom. Stochastic remains bullish and is currently testing 17.81 resistance with no signs of peak formation. MACD remains bearish and is currently testing -46.46 support as it continues to form a trough. ADX is currently trending up at 29 as Price continues to fall, this is bearish.
If Price is able to continue going up here then it will likely retest $1427 resistance. However, if Price breaks down here it will likely retest $1270 minor support before potentially falling to retest
1K psychological support. Mental Stop Loss: (two consecutive closes above) $1427. 
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